Working paper
House Price Cointegration; the Gold and Sunshine Coasts and Major Cities on the Eastern Australian Seaboard
Faculty of Business Working Paper Series, Vol.8(1), pp.3-25
University of the Sunshine Coast
2005
Abstract
Following work on house price cointegration and Granger causality testing by such researchers as Smyth and Nandha (2003), MacDonald and Taylor (1993) and Alexander and Barrow (1994), this work reports on earlier research which considered the dynamics of house pricing between the capital cities of the eastern Australian seaboard and the Gold and Sunshine Coasts, Queensland. There is some evidence suggesting a degree of market segmentation in southern and eastern cities of Australia, and on the Gold and Sunshine Coasts. Further, some cointegrating relations were found between some of the capital cities and the coastal areas. Results suggest that house prices in Sydney Granger cause house prices in Caloundra, that house prices in Melbourne Granger cause house prices in Adelaide, Canberra and Caloundra, that house prices in Canberra ranger cause house prices in the Gold Coast, house prices in the Gold Coast Granger cause house prices in Noosa, and in the Sunshine Coast as a whole. Interestingly, there was no evidence to suggest that any urban centre Granger caused house prices in Brisbane, nor did Brisbane Granger cause house prices in any other centre. It appears to be a market separate and to itself.
Details
- Title
- House Price Cointegration; the Gold and Sunshine Coasts and Major Cities on the Eastern Australian Seaboard
- Authors
- Peter Slade (Author) - University of the Sunshine Coast - Faculty of Business
- Publication details
- Faculty of Business Working Paper Series, Vol.8(1), pp.3-25
- Publisher
- University of the Sunshine Coast
- Date published
- 2005
- ISSN
- 1443-3737
- ISBN
- 0958535207
- Copyright note
- Copyright © 2005 Peter Slade. Reproduced with permission.
- Organisation Unit
- University of the Sunshine Coast, Queensland
- Language
- English
- Record Identifier
- 99449715502621
- Output Type
- Working paper
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